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Relation Between Government Balance and Debt

Václav Rybáček and Petr Musil

Politická ekonomie, 2020, vol. 2020, issue 4, 462-482

Abstract: The relation between government deficit and debt is not straightforward and draws intensive attention of users and analysts. In reality, surplus balances can accompany increasing debt even in the long term. The objective of the paper is thus to scrutinize, by analysing international data, the closeness of both aggregates, which is essential for assessment of the long-term sustainability of public finances. The text explains factors entering between both macroeconomic indicators, as they are currently defined. Furthermore, the text discusses alternatives to currently defined debt and their closeness to the government final balance. The development of indicators is analysed using data for the Czech Republic. Within the data availability constraints, an international comparison of balance sheet indicators is presented.

Keywords: convergence criteria; balance; debt; government (search for similar items in EconPapers)
JEL-codes: E62 H11 H6 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.18267/j.polek.1290

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